Prince William has decided to give up £1.5 million a year in rental income linked to Dartmoor Prison and direct the money back into the local area. The prison, near Princetown in Devon, has been closed since July 2024 after toxic radon gas was detected, leaving jobs, businesses and long-term plans in doubt. According to Hello!, the Prince of Wales instructed the Duchy of Cornwall to remove the annual rent from his accounts and invest it locally while the future of the prison is still unresolved.
Prince William Backs Princetown During Prison Closure
The income comes from a lease agreement with the Ministry of Justice that runs until 2033. That deal was made in 2022, before William became Duke of Cornwall. His private secretary Ian Patrick explained the decision in clear terms. "The Duke has seen first-hand the impact that the prison’s continued closure is having on the local community and believes it is right that this money should be used to help the area build for the future while uncertainty remains," said Ian Patrick according to Hello!. The plan centers on keeping the financial benefit in Princetown rather than treating it as private income.
Ian Patrick Details Community Fund Plan
The Duchy of Cornwall now plans to create a community-led regeneration fund for the town. The fund is expected to support local businesses, improve facilities such as the youth centre and expand environmental programmes in the area. Patrick also underlined the local connection to the prison, saying, "The Duke felt strongly that, while those questions remain unanswered, the benefit of this income should remain in the community, helping local people shape that future." The approach places the focus on practical support as residents face continued uncertainty over employment and the town’s direction.
Prince William Pushes Wider Duchy Overhaul
This decision also fits into a broader restructuring of the Duchy of Cornwall under William’s leadership. The estate, which is nearly 700 years old, is shifting its priorities and plans to sell 20 per cent of its holdings. The aim is to focus more tightly on five key areas: Cornwall, the Isles of Scilly, Dartmoor, Bath and the surrounding area, and Kennington in South London. Duchy chief executive Will Bax said the strategy is designed to channel land, capital and partnerships into projects with stronger social and environmental value alongside long-term financial stability.
Duchy Accounts Show William’s Private Income
The latest annual accounts also give a clearer picture of William’s finances. He received a private income of £21.6 million from the Duchy’s land and property portfolio in 2025-26. The accounts also show that he paid £7.76 million in tax during the same period, marking the first time that figure has been made public. Elsewhere, Kensington Palace said staff numbers in the household of William and Catherine rose from 68 to 74. Diversity data showed 14.9 per cent of staff are from an ethnic minority background, while 73 per cent are female and 27 per cent male.
